Legal Question in Bankruptcy in Massachusetts
Exempt property
I have recently declared bankruptcy. My debt was discharged as of March 14th, 2005. My question is my home was an exemption, and am I free to sell at anytime or is there a period after the dischage that I have to wait to keep this exemption.
1 Answer from Attorneys
Re: Exempt property
The answer is a qualified yes. Though you have received your discharge, that does not necessarily mean that your assets have been revested in your name. Some closing attorneys will not close a sale until the bankruptcy case is closed and the trustee discharged. The best way to proceed (if you cannot wait until the case is closed) is to ask the Chapter 7 trustee to abandon his/her interest in the real estate. Once that has been done, you are free to do whatever you like with your real estate.
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